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Quick Bitcoin (QBTC) is a digital currency that represents the value of Bitcoin.It is an ERC20 token built on Ethereum that is pegged 1 : 1 with Bitcoin.Developed by QuickCash, this token allows you to use your Bitcoin assets topartake in DeFi applications and markets built on Ethereum.QBTC strictly abides by a 1 : 1 reserve guarantee, meaning that for each QBTC issued, the depository address will have an asset protection of 1 BTC. This ensures that users may exchange their QBTC back to Bitcoin at any time.
The amount of QBTC in existence correlates directly with the amount of Bitcoin stored by the custodian with creation and destruction of the token being verifiable on the blockchain.
Issue Date: Q3 2020
Issuing Chain: Ethereum (ERC20)